Euronet Worldwide Q3 2024 Results – Revenues Up 9%

Euronet Worldwide, Inc. has reported its third quarter 2024 financial results, and the numbers are looking strong. The company's revenues for the quarter were reported at $1,099.3 million, showing a 9% increase from the same period in 2023. Operating income also saw a 9% increase, reaching $182.2 million, and adjusted EBITDA climbed by 6% to $225.7 million.

Net income attributable to Euronet was $151.5 million, or $3.21 diluted earnings per share, compared to $104.2 million, or $2.05 diluted earnings per share in the third quarter of 2023. Adjusted earnings per share came in at $3.03, marking an 11% increase from the previous year.

The company's cash and cash equivalents stood at $1,524.1 million, and ATM cash totaled $805.4 million as of September 30, 2024. Availability under its revolving credit facilities was approximately $669.8 million.

Breaking down the results by segment, the EFT processing segment reported revenues of $373.0 million, an 8% increase from the same period in 2023. Operating income and adjusted EBITDA for this segment also saw double-digit growth, along with a significant increase in the number of installed ATMs.

The epay segment reported revenues of $290.3 million, a 10% increase from the previous year, with a notable increase in transactions. However, the segment experienced a 5% decrease in POS terminals.

Lastly, the money transfer segment reported revenues of $438.2 million, an 11% increase from the same period in 2023. The segment also saw a double-digit increase in total transactions and a 10% increase in network locations.

The company's balance sheet and financial position showed a net increase in unrestricted cash and cash equivalents, reaching $1,524.1 million as of September 30, 2024. Total indebtedness was $2,278.8 million, and the company repurchased 1 million shares for $101.3 million during the third quarter.

As a result of these announcements, the company's shares have moved -0.2% on the market, and are now trading at a price of $98.89. For more information, read the company's full 8-K submission here.

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